Tredegar Corporation (NYSE:TG - Get Free Report) major shareholder John Gottwald sold 33,333 shares of the company's stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $8.03, for a total value of $267,663.99. Following the sale, the insider owned 292,287 shares in the company, valued at approximately $2,347,064.61. The trade was a 10.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Tredegar Price Performance
NYSE TG opened at $8.03 on Friday. The business has a 50 day simple moving average of $7.46 and a 200 day simple moving average of $7.91. Tredegar Corporation has a one year low of $6.25 and a one year high of $10.53. The stock has a market capitalization of $280.57 million, a P/E ratio of 8.36 and a beta of 0.75.
Tredegar (NYSE:TG - Get Free Report) last issued its earnings results on Friday, August 7th. The basic materials company reported $0.18 earnings per share for the quarter. Tredegar had a return on equity of 14.52% and a net margin of 4.26%. The business had revenue of $216.24 million during the quarter. During the same quarter in the previous year, the firm posted $0.05 earnings per share.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded shares of Tredegar from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has an average rating of "Hold".
Check Out Our Latest Analysis on TG
Institutional Trading of Tredegar
Several hedge funds have recently bought and sold shares of the business. Corient Private Wealth LP acquired a new stake in Tredegar in the 2nd quarter valued at $82,000. Susquehanna International Group LLP raised its holdings in Tredegar by 116.2% during the second quarter. Susquehanna International Group LLP now owns 36,581 shares of the basic materials company's stock worth $291,000 after buying an additional 19,664 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Tredegar by 145.3% during the second quarter. Hsbc Holdings PLC now owns 30,559 shares of the basic materials company's stock worth $242,000 after buying an additional 18,103 shares during the last quarter. Empowered Funds LLC acquired a new position in Tredegar during the second quarter worth $630,000. Finally, Bank of America Corp DE bought a new position in shares of Tredegar in the second quarter valued at $508,000. Institutional investors and hedge funds own 79.24% of the company's stock.
Tredegar Company Profile
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Get Free Report)
Tredegar Corporation (NYSE: TG) is a manufacturer of specialty plastic films. Its products include polyethylene films used in personal care, household, medical, industrial and other consumer applications. The company's films are incorporated into products such as diapers, hygiene products, packaging and protective materials.
Tredegar has also operated flexible packaging film businesses, producing high-performance films for food, beverage, pharmaceutical and other packaged goods applications.
Further Reading
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